Novak Construction Acquires Retail Property In Chicago For $29.3M
1471 West Webster Avenue, Chicago, IL 60614
$29,300,000
$217/SF
Building Size
135,000 SF
Asset Type
Retail
Closing
Jan 11, 2022
About this deal
AI
The retail property located at 1471 W Webster Ave in Chicago has been sold in a recent transaction. The property spans 135,000 square feet and was sold for a price of $29,300,000, resulting in a price per square foot of $217. The sale took place on January 11, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $29,300,000
- Square Footage: 135,000
- Address: 1471 W Webster Ave, Chicago
- Market: Chicago
The buyer in this transaction was Novak Construction, while the seller was RPT Realty, represented by Brian Harper. The deal was facilitated by JLL. The sale of this retail property marks a significant transaction in the market, contributing to the ongoing dynamics of the real estate industry in Chicago.
On the Map
$29,300,000
$217/SF
Retail
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Players
Chicago Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93